Market Wrap: Banks, Unite!; Netflix Unreels; The $2B UBS Man; Hello? Is RIM There?; The 'Mack'-Attack No More

Market Wrap for September 15th:

End of the Day: Dow Jones up 186 to 11,433; Nasdaq up 35 to 2,607.07; S&P 500 up 20 to 1,209.11

The following is a brief summary of events moving markets today:

• "Okay, fine. We'll help": The European Central Bank today said it spoke with several other global banks, including the U.S. Fed, the Bank of Japan, the Bank of England, and the Swiss National Bank, and all agreed to lend to the country's debt-laden banks for three months, much longer than the original one week. This was the first coordinated effort to provide dollars since May 2010, and comes on the three-year anniversary of the Lehman Bros collapse.
  
  Earlier in the session, the European Commission cut its growth forecast in the region from 0.4 percent in the third- and fourth-quarters, to 0.2 percent in the third and 0.1 percent in the fourth, indicating growth would come to a near-standstill in the area.
  
  
• Love, on the Rocks: Netflix, Inc. (Nasdaq: NFLX), reduced it's domestic subscriber outlook, while leaving it's financials and international subscriber outlook unchanged. Netflix reduced it's domestic streaming-only outlook from 10 million to 9.8 million, and domestic DVD-only accounts from 3 million to 2.2 million users. Total accounts moved from 22 million to 21.8 million for the third quarter.
  
  
• Think you had a bad day?: UBS (NYSE: UBS) sank today, closing about 10 percent lower, as the bank said it might experience a loss due to some foul play. UBS said due to unauthorized trading by one trader, the firm will record a £1.3 billion (about $2 billion) loss in the quarter. The loss could also result in UBS having a GAAP loss in the period, a far cry from the 55 cents per share in earnings currently expected by the Street.
  
  
• They found the motion... It's just in the wrong direction: Research In Motion (Nasdaq: RIMM) missed it's second quarter expectations, PlayBook shipments came in below views, and it now sees fiscal 2012 earnings at the lower end of previously issued guidance. Click here for more on the quarter.
  
  
• The Mack has left the premises: John Mack, long a staple at Morgan Stanley (NYSE: MS), is leaving as Chairman after over 30 years of service.

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